SAIF Zone inks investment agreement with Spanish business group to boost TORRECID's regional operations

TORRECID’s 20,000 sq.ft facilities will be the group's first headquarters in the UAE and GCC

Sharjah: The Sharjah Airport International Free Zone (SAIF Zone) has signed an investment agreement with TORRECID, a Globalized Multinational Business Group dedicated to providing products, services, solutions and future trends to the Ceramic and Glass Sector, to boost the former operations in the region.

Under the agreement, the Spanish group will lease three state-of-the-art warehouses stretching over an area of 20,000 sq. ft, making it the group’s first headquarters not only in the UAE but also in the GCC countries. This reflects SAIF Zone’s ability to attract foreign direct investments across strategic economic sectors, and also boosts its reputation as one of the fastest-growing free zones in the Middle East.

The agreement was signed on Sunday by HE. Saud Salim Al Mazrouei, Director of SAIF Zone, and Jose Nacher - Branch Director of TORRECID, in a ceremony held at the headquarters of the free zone. The ceremony was attended by several senior officials from both entities.

Founded in 1936, the Multinational Business Group, which now operates in 28 countries/areas around the world with customers in more than 130 countries, aims to expand its global operations. It has chosen its regional headquarters to be in Sharjah to further boost its global operations and enhance its presence in the Asian, African European, and American markets.

Conducive Environment for Doing Business

Speaking on the occasion, HE. Al Mazrouei said: “TORRECID’s decision to base its regional operations in Sharjah is yet another testament to the emirate’s good reputation, which has grown to become a regional and international hub for doing business. It also reflects global investors’ trust in the emirate and SAIF Zone in particular thanks to its unique environment, competitive services, facilities and above all the wise directives and vision of H.H. Dr. Sheikh Sultan bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah,”.

“Backed by a world-class infrastructure, SAIF Zone provides more than 2,000 modern warehouses that perfectly meet the needs and requirements of all investor in addition to offering competitive advantages and logistical services coupled with topnotch facilities that all serve as a magnet for foreign direct investment,” Al Mazrouei added.

“With TORRECID becoming a new investor in the free zone, we are sure it will help strengthen Sharjah's position as a favoured destination and business centre for global and regional investments in the industrial sector,” he emphasized.

Expanding into global markets

For his part, Jose Nacher - Branch Director of TORRECID, said: “Moving in line with our strategic goals to expand into the global market and reach out to a larger segment of customers in promising markets, we have chosen to base our regional operations in SAIF Zone thanks to its unique facilities, services and infrastructure. We are looking forward to a new chapter of growth launching from the Emirate of Sharjah, which is known for its business reputation in the global markets”.

SAIF Zone, the oldest, largest and fastest-growing free trade zone in the Middle East, is famous for providing quality services in line with the forward-looking strategy of the UAE leadership, which has heavily invested in the country’s capabilities to transform it into a global business hub.

-Ends-

For more details please contact:
Shereen Al Musalami
Misbar Communication
shereen@misbar-me.com

Heba Al Shahed
Misbar Communication
heba.alshahed@misbar-me.com

Mahmoud Soliman
Misbar Communication mahmoud.soliman@misbar-me.com 

© Press Release 2021